News & Announcements

The announcement was made after trading hours yesterday, 12 March 2018.

Meanwhile, the S&P BSE Sensex was up 179.52 points, or 0.53% to 33,738.42.

On the BSE, 1.56 lakh shares were traded in the counter so far compared with average daily volumes of 78,000 shares in the past two weeks. The stock had hit a high of Rs 63.40 and a low of Rs 61.50 so far during the day. The stock hit a 52-week high of Rs 72 on 24 January 2018. The stock hit a 52-week low of Rs 33.85 on 11 August 2017.

Alembic announced that the buyback committee of Alembic in its meeting held on Monday, 12 March 2018, approved and finalised buyback of up to 1.02 crore fully paid-up equity shares of the company having face value of Rs 2 each at Rs 80 per equity share payable in cash for a total consideration not exceeding Rs 82 crore.

The committee fixed Friday, 23 March 2018 as the record date for determining the equity shareholders of the company eligible to tender equity shares under the buyback offer.

Alembic is engaged in manufacturing and marketing of fermentation and chemistry based active pharmaceuticals ingredients (API). The company is also engaged in construction of residential & commercial real estate projects and project management and marketing consultancy. It is also engaged in power generation through co-generation plants of total 11 megawatts and 4 windmills of total 5 megawatts.

The Board of Alembic at its meeting held on 12 March 2018 has approved the following -

1. Approved and finalized buy-back of up to 1,02,50,000 fully paid-up equity shares of the Company having face value of Rs. 2/- (Rupees Two Only) each at the price of Rs. 80/- per equity share ('Buy-back Price') payable in cash for a total consideration not exceeding Rs. 82 crore ('Buy-back Size') excluding transaction costs i.e. fees, brokerage, applicable taxes such as securities transaction tax, goods and services tax, stamp duty, etc.

2. Fixed Friday, 23 March, 2018 as the record date for determining the equity shareholders of the Company eligible to tender equity shares under the buy-back offer.

Net profit of Alembic rose 717.65% to Rs 5.56 crore in the quarter ended December 2017 as against Rs 0.68 crore during the previous quarter ended December 2016. Sales rose 11.02% to Rs 29.93 crore in the quarter ended December 2017 as against Rs 26.96 crore during the previous quarter ended December 2016.

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